Tire maker Sailun selling UK sales arm

Written by Jane Ho, ERJ China correspondent

Qingdao, China – Tire maker Sailun is to sell its fully-owned subsidiary Kings Road Tyres Group (KRT Group) at £500,000 to KRT Holdings, a company set up for the transaction and controlled by UK’s Resolve Invest Ltd.

According to Sailun’s filing on the Shanghai Stock Exchange in November, KRT Group is a Burton upon Trent-registered UK tire sales and tech services firm.

Over the first six months KRT Group had €5 million (40 million yuan) net loss on €22 million revenue.

Sailun acquired KRT Group in 2014 when…

To read more,please login or register below.

Register

This is the first step to more free content, user offers, subscriptions and more.